PhonePe to Google Pay: UPI transactions to become faster from today; other changes to follow soon
India’s Unified Payments Interface, or UPI, is all set to undergo a major overhaul. From June 16, the technology supporting UPI transactions is getting a big upgrade, the benefit of which will include transaction speed boosts and faster payment reversals.
The National Payments Corporation of India (NPCI) has rolled out a series of enhancements designed to boost UPI’s speed by up to 66 per cent and improve the overall system efficiency.
